Phillips Edison & Company, Inc. (NASDAQ:PECO) Declares Monthly Dividend of $0.10

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Tuesday, November 5th, Wall Street Journal reports. Investors of record on Tuesday, February 18th will be paid a dividend of 0.1025 per share on Tuesday, March 4th. This represents a $1.23 annualized dividend and a yield of 3.15%. The ex-dividend date is Tuesday, February 18th.

Phillips Edison & Company, Inc. has a payout ratio of 208.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Phillips Edison & Company, Inc. to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 48.2%.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $39.08 on Thursday. The company has a fifty day moving average price of $37.38 and a two-hundred day moving average price of $34.74. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $39.58. The firm has a market capitalization of $4.79 billion, a PE ratio of 84.96, a P/E/G ratio of 3.50 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The company had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. Equities analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Analysts Set New Price Targets

PECO has been the subject of a number of recent analyst reports. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Mizuho upped their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Compass Point increased their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.50.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.